Market validation is the process of testing a product or service with a small group of customers to evaluate the potential success it will have when launched in the market.
Building a product and its corresponding marketing strategy takes significant time, resources, and effort.
Validating the product with a small group of customers before launching it can ensure that time and effort isn’t wasted on a product that won’t drive sales.
Market validation is a way of testing a product to see how consumers react to it and if it meets their needs. It enables teams to make final revisions to the product based on consumer feedback.
Market validation can involve several different kinds of testing, including:
Many brands extend market validation to other areas of their business, as well. Brands can test marketing materials, content, customer engagement strategies, business plans, and other elements to identify gaps, make necessary adjustments, and ensure anything they launch to the public is as refined as possible.